Don’t Forget to File!

On March 18, 2011, in Advice, by Hyderabad ACS

All U.S. citizens or resident aliens must report their worldwide income, even if you live abroad. Your worldwide income is subject to U.S. income tax, regardless of where you reside. But don’t fret! Just because you have to file a tax return doesn’t necessarily mean you owe taxes.

If you reside overseas, or are in the military on duty outside the U.S., you are allowed an automatic 2-month extension to file your return until June 15. However, any tax due must be paid by the original return due date (April 15) to avoid interest charges.

Visit the IRS website for more information.